John Deaton, an attorney known for his support of Ripple (XRP), has emphasized that the outcome of the Ripple-SEC lawsuit is becoming increasingly significant with each passing day.
The crypto industry is currently focused on the Ripple and SEC case, with growing speculation that the lawsuit will determine the future trajectory of the cryptocurrency.
The recent increase in SEC pressure has been a major topic of discussion. Attorney John Deaton, known for his support of Ripple, has argued that the Ripple lawsuit has become of crucial importance during these proceedings.
The Ripple Lawsuit Holds Critical Importance!
Scott Melker, known as "The Wolf Of All Streets" on Twitter, commented on the launch of the crypto exchange EDX. Melker noted that the four cryptocurrencies to be listed for trading on EDX had been classified as commodities by SEC Chairman Gary Gensler.
EDX, which has garnered support from various institutions and has obtained regulatory approval, was at the center of Melker's focus. EDX offers trading services for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Scott Melker, who drew attention to the SEC-backed EDX, stated that if the crypto market does not take action, it will be controlled by Wall Street. In response to Melker's views, John Deaton pointed to the Ripple case. Deaton argued that the decision to be made by Judge Torres, who presides over the case, is becoming increasingly significant day by day.
Deaton stated that if the outcome of the case is against XRP, it will strengthen Gensler further. Additionally, Deaton mentioned that if the case concludes in favor of XRP, it will be a win for the entire crypto sector.